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808796
star this property registered interest false more like this
star this property date less than 2017-12-18more like thismore than 2017-12-18
star this property answering body
HM Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Cash Dispensing: Fees and Charges more like this
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect of the proposal by the LINK network of AGM providers to reduce interchange fees on (a) consumers, (b) small business and (c) high streets and (d) access to cash for customers; whether his Department has made an assessment of the combined effect of that proposal with a reduction in the availability of banks on (i) consumers and (ii) businesses; and what progress has been made on the commitment he gave in his evidence to the House of Lords Exclusion Committee on engaging with the LINK network and its members to ensure that widespread free access to cash is maintained. more like this
star this property tabling member constituency Sefton Central more like this
star this property tabling member printed
Bill Esterson remove filter
star this property uin 119905 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2017-12-21more like thismore than 2017-12-21
star this property answer text <p>The Government recognises that widespread free access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK, and will continue to work with industry to ensure that this access continues. Since 1998, the number of free to use ATMs has more than doubled, from 24,600 to over 53,000.</p><p> </p><p>The Government has not made any formal assessment of the potential effect of LINK’s proposals to reduce interchange fees in isolation, or in combination with bank branch closures. However, the Payment Systems Regulator (PSR), which Government set up in 2015 with the statutory objective to ensure that the UK’s payment systems work in the interests of their users is monitoring developments within ATM provision, and is conducting ongoing internal work on the impact that changes may have on ATM provision. Government is confident that the PSR will use its powers to act should any of the firms it regulates behave in a way that conflicts with its statutory objectives.</p><p> </p><p>The Government is engaging regularly with LINK and its members, and they have assured us that industry is committed to maintaining an extensive network of free-to-use cash machines, and to ensuring that the present geographical spread of ATMs is maintained. LINK intend to bolster their Financial Inclusion Programme, which ensures the provision of ATMs in areas of deprivation, where demand would not otherwise make one viable, and have recently also committed to protecting all free-to-use ATMs which are a kilometre or more from the next nearest free-to-use ATM. The Government expects this additional commitment to be of particular benefit to rural areas.</p>
star this property answering member constituency North East Cambridgeshire more like this
star this property answering member printed Stephen Barclay more like this
star this property grouped question UIN
119978 more like this
120174 remove filter
star this property question first answered
less than 2017-12-21T11:53:32.527Zmore like thismore than 2017-12-21T11:53:32.527Z
star this property answering member
4095
star this property label Biography information for Stephen Barclay more like this
star this property tabling member
4061
unstar this property label Biography information for Bill Esterson more like this